Question 1

Corporate Strategy considers:&#10;A) where to operate and the scope of the firm&#10;B) the ownership structure of the firm&#10;C) the corporate identity of the firm&#10;D) the corporate responsibility of the firm

Accepted Answer

Corporate Strategy mainly focuses on determining where the company should operate and the scope of its operations. It involves making strategic decisions about entering or exiting markets, diversification, and mergers and acquisitions to achieve the company's long-term goals. The other options, ownership structure (B), corporate identity (C), and corporate responsibility (D) are important, but they are not the primary concerns of corporate strategy.

Question 2

Business Strategy is the way an organization:&#10;A) gains advantage in geographical areas or sectors&#10;B) generates revenue&#10;C) wins market share&#10;D) applies strategy to the leadership of the organization

Accepted Answer

A

Question 3

Functional Strategy is about:&#10;A) how to operate&#10;B) how to plan&#10;C) how to allocate resources&#10;D) how to communicate

Accepted Answer

Functional strategy focuses on how to operate within a specific department or function to achieve organizational goals effectively.

Question 4

Interpretations of what strategy is differ in the literature. How many high level points of agreement do Mintzberg et al. (2009:15) identify?&#10;A) 7&#10;B) 4&#10;C) 8&#10;D) 3

Accepted Answer

Mintzberg et al. (2009) identify seven high-level points of agreement on the concept of strategy.

Question 5

Strategy as plasticity can be interpreted as:&#10;A) A means to opportunistically handle or gain advantage from a situation&#10;B) Ongoing strategic renewal&#10;C) An emerging strategy&#10;D) A dynamic strategy

Accepted Answer

Strategy as plasticity refers to the ability to adapt and take advantage of changing situations, which aligns with the concept of opportunistically handling or gaining advantage from a situation.

Question 6

Strategy as a pattern in a stream of activity can be interpreted as:&#10;A) Recurring aspects of an individual or organization's activity&#10;B) A workflow schematic&#10;C) Strategic milestones&#10;D) Weekly communicated strategy

Accepted Answer

Strategy as a pattern in a stream of activity means that there are recurring aspects of an individual or organization's activity that could be identified as a strategy. It is not defined by a specific workflow schematic, strategic milestones, or weekly communicated strategy.

Question 7

Organizational performance is dependent on collaboration between divisions, business units, and teams

Accepted Answer

Collaboration promotes communication, teamwork and knowledge sharing across an organization, leading to improved organizational performance.

Question 8

Corporate strategy is the dominant focus when compared to business strategy and functional strategy.

Accepted Answer

Corporate strategy defines the overall scope and direction of a corporation and how its various business operations work together to achieve particular goals. Business strategy and functional strategy, however, focus on how a single business unit should operate to be competitive and how different functions (like marketing, finance, etc.) should support the business strategy, respectively. No single strategy is dominant; they are interrelated and contribute to the overall strategic plan of an organization.

Question 9

Pioneers in establishing the use of the strategy concept in management practice are:&#10;A) Alfred Chandler&#10;B) Kenneth Andrews&#10;C) Ronald Coase&#10;D) Michael Porter&#10;E) Igor Ansoff

Accepted Answer

The answer of Pioneers in establishing the use of the...

Question 10

Which of the following are stakeholders in the organization?&#10;A) Investors&#10;B) Local community&#10;C) Competitors in separate markets&#10;D) Employees

Accepted Answer

Investors have invested in the organization and therefore have a stake in its success. The local community may be affected by the organization's operations, and may also have a stake in its success. Employees are directly impacted by the organization and its success. Competitors in separate markets may not have a direct stake in the organization's success, as they operate in different markets.

Deck 1: Interpreting Strategy